Snowflake (NYSE:SNOW) Downgraded by StockNews.com to “Sell”

StockNews.com cut shares of Snowflake (NYSE:SNOW) from a hold rating to a sell rating in a research report report published on Friday.

Other equities analysts also recently issued research reports about the stock. KeyCorp increased their price target on shares of Snowflake from $185.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Citigroup reduced their target price on shares of Snowflake from $200.00 to $183.00 and set a “buy” rating for the company in a report on Monday, November 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $180.00 price target on shares of Snowflake in a report on Tuesday, November 19th. Truist Financial reaffirmed a “buy” rating and set a $210.00 price target on shares of Snowflake in a research report on Thursday, November 21st. Finally, Jefferies Financial Group boosted their price objective on Snowflake from $180.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $188.06.

Snowflake Stock Performance

Snowflake stock opened at $174.05 on Friday. The business’s 50-day simple moving average is $164.87 and its two-hundred day simple moving average is $135.90. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.77. Snowflake has a fifty-two week low of $107.13 and a fifty-two week high of $237.72.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 15,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $120.77, for a total value of $1,811,550.00. Following the completion of the sale, the executive vice president now owns 706,755 shares of the company’s stock, valued at $85,354,801.35. This represents a 2.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Christopher William Degnan sold 76,692 shares of Snowflake stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $168.42, for a total transaction of $12,916,466.64. Following the sale, the executive now directly owns 346,741 shares in the company, valued at approximately $58,398,119.22. The trade was a 18.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 504,151 shares of company stock worth $84,973,139 in the last three months. 7.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snowflake

Several large investors have recently modified their holdings of the business. Asset Dedication LLC raised its holdings in Snowflake by 6.8% in the 4th quarter. Asset Dedication LLC now owns 922 shares of the company’s stock valued at $142,000 after buying an additional 59 shares during the period. Breakwater Capital Group increased its position in shares of Snowflake by 2.2% during the fourth quarter. Breakwater Capital Group now owns 2,938 shares of the company’s stock valued at $454,000 after acquiring an additional 62 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Snowflake by 31.0% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 380 shares of the company’s stock valued at $59,000 after acquiring an additional 90 shares during the period. Modus Advisors LLC lifted its holdings in shares of Snowflake by 3.9% in the 3rd quarter. Modus Advisors LLC now owns 2,491 shares of the company’s stock worth $286,000 after acquiring an additional 94 shares during the last quarter. Finally, Catalyst Private Wealth LLC boosted its position in shares of Snowflake by 3.2% during the 3rd quarter. Catalyst Private Wealth LLC now owns 3,329 shares of the company’s stock worth $382,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 65.10% of the company’s stock.

Snowflake Company Profile

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.